When examining the LDO/USDT chart, we observe that the token is currently positioned at a crucial level of strong trendline fakeout, accompanied by a notable increase in selling pressure.
Sellers are actively consolidating the market with the intention of driving down the price.
We need to exercise caution in the FAKEOUT area, which spans from 2.300 to 2.400. This zone signifies a potential false breakout .Traders should remain vigilant during this period, as the market sentiment could quickly change, leading to a downside correction.
At present, the ideal buying area for LDO/USDT lies between the ranges of 1.920 and 1.970. This range offers a favorable opportunity for traders to enter the market, as the strong support indicates a potential price rebound from this level.
Idea would be invalidated if we give 2 daily candle closing above 2.300 to 2.400 levels.
#plan your trade and trade your plan
Sellers are actively consolidating the market with the intention of driving down the price.
We need to exercise caution in the FAKEOUT area, which spans from 2.300 to 2.400. This zone signifies a potential false breakout .Traders should remain vigilant during this period, as the market sentiment could quickly change, leading to a downside correction.
At present, the ideal buying area for LDO/USDT lies between the ranges of 1.920 and 1.970. This range offers a favorable opportunity for traders to enter the market, as the strong support indicates a potential price rebound from this level.
Idea would be invalidated if we give 2 daily candle closing above 2.300 to 2.400 levels.
#plan your trade and trade your plan